Flood Insurance

While some homeowners must purchase flood insurance, it is smart always to be prepared for the worst. If your home sits within a high-risk flood area, you must obtain flood insurance to protect your property. The purchase of flood insurance provides you with property protection and can give you peace of mind. Let BlackDiamond Insurance Services help you understand when your property requires flood insurance.

The Federal Emergency Management Agency (FEMA) maps floodplains throughout the country to show the flood risk in an area. Any properties located inside the area get designated with that flood risk rating. Flood insurance comes from a mandate from Congress to protect the Federal Deposit Insurance Corporation (FDIC), which insures all mortgages. This protects the government from losing its money.

You don't pay your premiums to the government. NFIP approves local insurance carriers like BlackDiamond Insurance Services, who meet the required quality checks.

Use the FEMA website to find out if your property requires flood insurance. You can also look at a physical map to know if your property needs insurance. You can find these maps at the post office or county assessor's office. You check the property address on the map. It requires flood insurance if it sits in Zone A or Zone B.

You won't need to check a map if you have already purchased your home. You can check the paperwork from your home's purchase. In your closing paperwork, find the section titled "Natural Hazards Disclosures." Look for disclosure in the paperwork that classifies your property as Zone A or Zone B. These zones indicate a high risk for flooding.

If you need help figuring out if you must purchase flood insurance or you want to find out about obtaining a policy knowing that just one inch of floodwater can cause up to $40,000 of damage, call us. BlackDiamond Insurance Services can help you obtain the insurance you need at a price you can afford.

While our office is located in New York, we offer our services all across the United States.